Mon, Apr. 20, 11:19 AM
- McCormick & Company (MKC +1.4%) announces it will reorganize its business in the Europe/Middle East/Africa region.
- The company says it has identified projects to increase efficiency through streamlined operations.
- The initiatives are expected to cut 2015 EPS by $0.13 through special charges, while annual cost savings from the measures of $16M per year are expected by the end of 2017.
Wed, Mar. 25, 4:34 PM
Tue, Mar. 24, 6:48 AM
- McCormick (NYSE:MKC) reports sales rose 6.0% on a constant currency basis.
- Gross profit rate decreased 84 bps to 38.57%.
- Segment revenue: Consumer: $620.3M (+0.81%, +5% on a constant currency basis); Industrial: $400.3M (+3.17%, +7% on a constant currency basis).
- Segment operating income: Consumer: $91.5M (-2.97%); Industrial: $30.6M (+0.99%).
- Operating margin rate fell 48 bps to 12.08%.
- Income from unconsolidated operations grew 94.12% to $9.9M.
- FY2015 Guidance: Sales: +4% to 6% in local currency; Operating income: +0% to 2%; Diluted EPS: $3.28 to $3.35; Adjusted diluted EPS: $3.44 to $3.51.
- FQ1 results
Tue, Mar. 24, 6:31 AM
Mon, Mar. 23, 5:30 PM
Wed, Jan. 28, 6:59 AM
- McCormick (NYSE:MKC) reports gross profit rate increased 20 bps to 43.12%.
- Segment revenue: Consumer: $773.3M (+1.10%); Industrial: $400.3M (-4.9%).
- Segment operating income: Consumer: $172.0M (-6.4%); Industrial: $30.3M (-5.7%).
- Operating margin rate fell 108 bps to $202.3M
- Income from unconsolidated operations grew 37.0% during the quarter.
- FY2015 Guidance: Sales: +4% to 6% in local currency; Operating income: +2% to 4%; Adjusted operating income: +4% to +5%; Diluted EPS: $3.41 to $3.48; Adjusted diluted EPS: $3.51 to $3.58.
- Q4 results
Wed, Jan. 28, 6:32 AM
Tue, Jan. 27, 5:30 PM| 1 Comment
Wed, Jan. 14, 8:22 AM
Mon, Jan. 12, 12:24 PM
Mon, Jan. 12, 10:45 AM
- Citigroup downgrades a number of food stocks on its view higher consumer spending in the sector may already by priced into share prices.
- Exposure to global markets also poses a risk due to currency swings and uneven demand, say analysts.
- The investment firm takes the rating on ConAgra (CAG -1%), Mondelez International (MDLZ -0.8%), and Kellogg (K -0.9%) to Neutral from Buy.
- McCormick & Company (MKC -0.8%), Kraft Foods Group (KRFT), and Campbell Soup (CPB) are all moved to Sell from Neutral.
Nov. 25, 2014, 5:18 PM
Oct. 14, 2014, 5:36 PM
Oct. 2, 2014, 6:32 AM
Oct. 1, 2014, 5:30 PM
Sep. 30, 2014, 5:20 PM| Comment!
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McCormick & Company Inc manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the entire food industryretail outlets, food manufacturers and foodservice businesses.
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